Fixed Ops Magazine 2024 Vol 21-3 - 28

FEATURE BY MICHAEL WACHT
AI: JUST
HYPE OR
RIGHT TIMING?
T
AI Basics: Discerning the Hype from the
Genuine Business Value
he Artificial Intelligence (AI) technological
revolution is unfolding right before our eyes.
After spending three decades in technology
and marketing, I have observed few acronyms capturing
the marketplace with as much optimism and trepidation
as AI. The rise of AI seems sudden, instilling a
sense of urgency. For those who have yet to adopt AI
technology, there is a feeling of being left behind in this
rapidly advancing field.
ARE THESE FEELINGS
JUSTIFIED, OR IS THIS
JUST HYPE?
The reality is that AI is firmly
entrenched in our future. While it
may seem like a recent phenomenon
since it vaulted into public
consciousness with the launch of
ChatGPT in November 2022, it has
actually been under development
for several decades. Leading tech28
nology
firms are now investing tens of billions of dollars
in AI advancements. Additionally, Sam Altman
of OpenAI is seeking an eye-popping trillion-dollar
investment to support infrastructure, as reported in a
recent CNBC article.
ARTIFICIAL INTELLIGENCE 101
For those who have
yet to adopt AI
Given the wide spectrum of AI, what is the best way to
discern which aspects of this technology
can offer practical benefits
to auto dealerships? Let's start by
categorizing artificial intelligence
into four broad groups or levels:
technology, there is a
feeling of being left
behind in this rapidly
advancing field.
Narrow AI is a type of artificial intelligence
designed to perform specific
tasks within a well-defined scope.
It operates using predefined rules,
algorithms, and learns from large
datasets, like historical repair order
information in the DMS. Examples
include automated email and text

Fixed Ops Magazine 2024 Vol 21-3

Table of Contents for the Digital Edition of Fixed Ops Magazine 2024 Vol 21-3

Fixed Ops Magazine 2024 Vol 21-3 - Cover 21-3
Fixed Ops Magazine 2024 Vol 21-3 - 2
Fixed Ops Magazine 2024 Vol 21-3 - 3
Fixed Ops Magazine 2024 Vol 21-3 - 4
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Fixed Ops Magazine 2024 Vol 21-3 - 28
Fixed Ops Magazine 2024 Vol 21-3 - 29
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Fixed Ops Magazine 2024 Vol 21-3 - 57
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Fixed Ops Magazine 2024 Vol 21-3 - Page 64
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Fixed Ops Magazine 2024 Vol 21-3 - 68
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